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808 61st St
Galveston, TX 77551
Candlewood Suites Galveston · Hospitality Property For Sale
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41,232 SF
Investment Highlights
- Ideal opportunity for a new investor to benefit from a recently renovated asset with strong historical cash-flows in the growing Galveston market.
- Priced at a 11.2% cap rate based on the 2024 year-end NOI of $773,000 (rounded).
- An investor can expect a new, 10-year franchise agreement with IHG.
- Underperforming hotel: rooms revenue as of TTM July 2025 equated to $1,460,000 (rounded), with 69.8% RevPAR penetration index.
- The change-of-ownership PIP report has been posted to the virtual deal room (VDR).
- The property is strategically located at the I-45 and 61st Street interchange; I-45 is a major thoroughfare for those traveling to Galveston Island.
Property Facts
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built/Renovated | 2008/2020 |
| Building Class | B | Parking Ratio | 2.01/1,000 SF |
| Lot Size | 1.47 AC | Corridor | Interior |
| Building Size | 41,232 SF | ||
| Zoning | S - Commercial (NEC) | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.47 AC |
| Building Size | 41,232 SF |
| No. Stories | 3 |
| Year Built/Renovated | 2008/2020 |
| Parking Ratio | 2.01/1,000 SF |
| Corridor | Interior |
| Zoning | S - Commercial (NEC) |
Amenities
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
- Fully-Equipped Kitchen
Property Taxes
| Parcel Number | 2207-0000-0001-000 | Improvements Assessment | $3,691,360 |
| Land Assessment | $881,140 | Total Assessment | $4,572,500 |
Property Taxes
Parcel Number
2207-0000-0001-000
Land Assessment
$881,140
Improvements Assessment
$3,691,360
Total Assessment
$4,572,500
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